Post
Topic
Board Development & Technical Discussion
Re: Proposal to Address Dormant Bitcoin:Recycling Lost Coins into the Mining Process
by
internetional
on 30/07/2023, 18:38:52 UTC

Could you provide example of sabotage?
Let's imagine a situation. The year is 2140. No one is using the first layer for transactions anymore. All transactions are conducted on something like Ark protocol. There are 100 Ark service providers collectively generating 100 transactions in each block. They set a fee of 1.20 satoshis per vByte in their transactions. Miners go out of business and stop producing blocks. Network difficulty drops dramatically, and Bitcoin ceases to be a reliable store of value. Wouldn't it be better to take unused coins and use them to incentivize miners to continue their business?